Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016

2016/258

Coat of Arms of New Zealand

Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016

Patsy Reddy, Governor-General

Order in Council

At Wellington this 7th day of November 2016

Present:
Her Excellency the Governor-General in Council

These regulations are made under sections 48A, 48B, 153, and 154 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009 and section 56(1)(e) and (2) of the Financial Transactions Reporting Act 1996—

(a)

on the advice and with the consent of the Executive Council; and

(b)

in relation to regulations made under section 154 of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009, on the recommendation of the Minister (as defined by section 5 of that Act) made in accordance with section 154(2) and (3) of that Act.

Regulations

1 Title

These regulations are the Anti-Money Laundering and Countering Financing of Terrorism (Prescribed Transactions Reporting) Regulations 2016.

2 Commencement

These regulations come into force on 1 November 2017.

3 Revocation

These regulations are revoked on the close of 31 October 2022.

4 Interpretation

In these regulations, unless the context otherwise requires,—

as available, in relation to any information to be disclosed by a reporting entity by these regulations, means any information in the possession of the reporting entity that is reasonably accessible from its records

prescribed transaction has the same meaning as in section 5 of the Act

section 48A(1) report means a report of a prescribed transaction made by a reporting entity under section 48A(1) of the Act.

5 Transitional, savings, and related provisions

The transitional, savings, and related provisions (if any) set out in Schedule 1 have effect according to their terms.

6 Prescribed transactions

For the purposes of section 48A of the Act, the following are applicable threshold values for a prescribed transaction:

(a)

the applicable threshold of a wire transfer is $1,000:

(b)

the applicable threshold for a domestic cash transaction is $10,000.

7 Information to be included in section 48A(1) report

The information to be included in a section 48A(1) report is the information set out in Schedule 2.

Schedule 1 Transitional, savings, and related provisions

r 5

Part 1 Provisions relating to these regulations as made

There are no transitional, savings, or related provisions relating to these regulations as made.

Schedule 2 Information to be included in section 48A(1) report

r 7

Part 1 Details to be contained in international wire transfer report

1 General

For the reporting entity,—

(a)

the name of the reporting entity:

(b)

the business address of the reporting entity:

(c)

the name of the reporting entity’s AML/CFT supervisor.

2 Transaction details

For each transaction,—

(a)

the branch or location where the transaction took place in New Zealand (if relevant):

(b)

the country where the transaction took place (if not New Zealand):

(c)

the date and time of transaction:

(d)

the mode of the transaction (ie, wire transfer):

(e)

the type of funds (eg, cash deposit, deposit from electronic funds):

(f)

the amount in New Zealand dollars:

(g)

the amount in foreign currency (if applicable):

(h)

the exchange rate (if applicable):

As available

(i)

the branch or city or region where the transaction took place if not in New Zealand:

(j)

the Internet Protocol address of the originator.

3 Transaction details in relation to originator or beneficiary

For each transaction by international wire transfer,—

(a)

the information to be provided where the reporting entity’s customer is the originator of the transaction (and not the information in paragraph (b)) is as follows:

(i)

the name of the beneficiary of the international wire transfer:

(ii)

the account number or unique transaction reference number for the beneficiary of the international wire transfer:

(iii)

the country where the beneficiary account is held or the location of the beneficiary (city or region, if available):

(iv)

any other details of the location of the beneficiary account or beneficiary, as available:

(v)

any other identifying information regarding the beneficiary of the international wire transfer, as available:

(b)

the information to be provided where the reporting entity’s customer is the beneficiary of the international wire transfer (and not the information in paragraph (a)) is as follows:

(i)

the name of the originator of the international wire transfer:

(ii)

the account number or unique transaction reference number for the originator of the international wire transfer:

(iii)

the country where the originator account is held or the originator is:

(iv)

any other details of the location of the originator account or the originator, as available:

As available

(v)

any other identifying information regarding the originator of the international wire transfer.

4 Customer details

(1)

For each customer party to the transaction,—

(a)

their name:

(b)

their account number or unique customer identifier:

(c)

their date of birth (if applicable):

(d)

their identity document number:

(e)

if the customer is not a natural person, identifying information that allows the transaction to be traced back to the person originating the transaction on behalf of the customer:

As available

(f)

the physical address of each customer party to the transaction or (if the customer party is a company) the address of its registered office:

(g)

the phone number of each customer party to the transaction:

(h)

any other identifying information regarding each customer party to the transaction.

(2)

For each person acting on behalf of a customer, or any other party to the transaction,—

(a)

the name of the person:

As available

(b)

their account number or unique customer identifier:

(c)

their date of birth (if applicable):

(d)

their identity document number:

(e)

if the customer is not a natural person, identifying information that allows the transaction to be traced back to the person originating the transaction on behalf of the customer.

5 Additional details for facilities involved in transaction

If relevant, the following additional details for facilities involved in the transaction, as available:

(a)

if the facility is operated by the reporting entity or another member of a designated business group,—

(i)

the type and identifying number of the facility:

(ii)

for each person in whose name the facility is operated, their name and date of birth:

(iii)

the name and date of birth for each signatory to the facility:

As available and applicable

(iv)

the relationship to, address of, and company identifier or registration number of each person in whose name the account is operated:

(v)

the relationship to, address of, and company identifier or registration number of the signatory of the account:

(b)

information on any facilities involved in the transaction but not provided by the reporting entity or another member of a designated business group.

Part 2 Details to be contained in domestic physical cash transaction report

6 General

For the reporting entity,—

(a)

the name of the reporting entity:

(b)

the business address of the reporting entity:

(c)

the name of the reporting entity’s AML/CFT supervisor.

7 Transaction details

For each transaction,—

(a)

the branch or location and name of the facility where the transaction took place (if relevant):

(b)

the date and time of transaction:

(c)

the mode of transaction (eg, in person, ATM, or other relevant system or channel):

(d)

the type of funds (eg, cash, cheque, electronic funds transfer):

(e)

the amount in New Zealand dollars:

(f)

the amount in foreign currency (if applicable):

(g)

the exchange rate (if applicable).

8 Customer details

(1)

For each customer party to the transaction,—

(a)

their name:

(b)

their account number or unique customer identifier:

(c)

their date of birth (if applicable):

(d)

their identity document number:

(e)

if the customer is not a natural person, identifying information that allows the transaction to be traced back to the person originating the transaction on behalf of the customer:

As available

(f)

the physical address of each customer party to the transaction or (if the customer party is a company) the address of its registered office:

(g)

the phone number of each customer party to the transaction:

(h)

any other identifying information regarding each customer party to the transaction.

(2)

For each person acting on behalf of a customer, or any other party to the transaction,—

(a)

the name of the person:

As available

(b)

their account number or unique customer identifier:

(c)

their date of birth (if applicable):

(d)

their identity document number:

(e)

if the customer is not a natural person, identifying information that allows the transaction to be traced back to the person originating the transaction on behalf of the customer.

9 Details for another party

Any other identifying information specified in clause 8, as available, regarding the beneficiary of the domestic physical cash transaction.

10 Additional details for facilities involved in transaction

The following additional details for facilities involved in the transaction:

(a)

if the facility is operated by the reporting entity or another member of a designated business group,—

(i)

the type and identifying number of the facility:

(ii)

for each person in whose name the facility is operated, their name and date of birth:

(iii)

the name and date of birth of each signatory to the facility:

As available and applicable

(iv)

the relationship to, address of, and company identifier or registration number of each person in whose name the account is operated:

(v)

the relationship to, address of, and company identifier or registration number of the signatory of the account:

(b)

information on any facilities involved in the transaction but not provided by the reporting entity or another member of a designated business group.

Michael Webster,
Clerk of the Executive Council.

Explanatory note

This note is not part of the regulations, but is intended to indicate their general effect.

These regulations, which come into force on 1 November 2017 and are revoked on 31 October 2022, prescribe details to be provided by reporting entities in reports under section 48A of the Anti-Money Laundering and Countering Financing of Terrorism Act 2009. These reports are for international wire transfers and for domestic physical cash transactions. The applicable threshold for reporting of details of international wire transfers is $1,000. In the case of domestic physical cash transactions, the applicable threshold is $10,000.

Issued under the authority of the Legislation Act 2012.

Date of notification in Gazette: 10 November 2016.

These regulations are administered by the Ministry of Justice.